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Mar. 18, 2015
Minding minority stockholder appraisal rights
A Delaware court recently granted minority stockholders appraisal rights following the consummation of a merger, even though the stockholders had agreed to drag-along rights in the stockholders agreement. By Diane Holt Frankle
In a recent opinion, Halpin v. Riverstone National Inc., C.A. No. 9796-VCG (Del. Ch. Feb. 26, 2015), the Delaware Court of Chancery granted the minority stockholders' appraisal rights following the consummation of the merger, even though the stockholders had agreed to drag-along rights in the stockholders agreement. The court declined to answer directly whether a common stockholder can, ex ante and by contract, waive appraisal rig...
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